The current, Borrow money with life insurance are very popular because of the very simple registration process and get the loan you want with many attractive incentive programs. Let’s Something Good Learn about the terms, procedures and lenders in the article below!
Borrow money with life insurance
Borrowing money with life insurance is a form of consumer unsecured loan for customers who own a life insurance policy. This is a form of loan with many units providing high loan guarantees. Usually, those who have the conditions to participate in life insurance often have a stable income, so they can ensure the ability to pay the loan.
Life insurance is a kind of certificate of credibility. The higher the monthly premium, the higher the interest rate will be.
Features of loan form under life insurance:
The lowest interest rate ranges from 1.5%/month.
– Flexible loan period from 6 to 36 months depending on the customer’s choice.
Loan approval within 1 to 3 days.
– Prepayment is possible.
Conditions for borrowing money by life insurance
Since this is also a form of unsecured loan, the conditions for participation are quite simple:
– Vietnamese citizens aged from 20 to 60 years old.
– Have full legal responsibility when participating in the loan.
Stable income ensures solvency.
– Minimum insurance premium of 3 million/year.
The insurance contract is valid for 1 year or more from the time of signing.
– No bad debt, attention debt at any company financewhich bank at the time of loan registration.
Procedures and documents for a loan with life insurance
Depending on the time of the loan, there will be different requirements and procedures, but basically the documents when borrowing money with life insurance will include:
– Personal photo 3×4.
– Citizen ID card / Identity card or passport.
– Passport copy notarized or original full 16 pages.
– Original vision insurance policy.
– Invoice of premium payment in the last 6 months.
– An application for a life insurance loan provided by the lender.
Advantages and disadvantages of borrowing money with life insurance
Borrowing without a third party guarantee.
– Borrowing without collateral.
Loans do not require proof of income.
Interest rates have many attractive incentives.
– High loan limit, disbursed amount is many times higher than insurance premium.
– The process is easy, convenient and fast.
– Free filing service.
– Quick time assessment.
– Accept monthly installment payments.
– Long and flexible loan term of many months.
– Commitment to customer information confidentiality, publicity and transparency.
– Interest rate, limit is not specific, depends on the monthly premium.
– Do not accept loans for bad debt cases.
– Limit lending to people who are participating in life insurance.
* Reference: Long-term Online Loan Without Mortgage – “Express Transfer”
Banks that lend through life insurance
Currently, there are many reputable banks offering life insurance loans, here are the options for you:
1. Borrowing under BIDV life insurance
BIDV is the best retail bank in the country, a bank that is popular with consumers with its simple and effective lending policy. Even customers with outstanding loans are still supported to continue lending if they need and are able to pay.
– Interest rate from 0.8 to 1.5%/month.
– Maximum term up to 4 years.
Maximum loan limit is 250 million VND.
2. Borrowing under MB . life insurance
Borrowing under MB life insurance is a flexible form of unsecured loan, no collateral and extremely simple documents.
– Extremely preferential interest rates from 0.8 to 1.5%/month.
Loan term from 12 to 48 months.
Loan support from 10 million to 300 million dong.
4. Loan under Vietinbank life insurance
Borrowing money with life insurance of Vietinbank is an integrated form of loan that has the advantages of safety and transparency of mortgage loans and limits the risks of creditworthiness of unsecured loans.
– Preferential interest rates from 0.8% to 1.5%/month.
Loan term from 12 to 48 months.
Loan limit from 10 million to 300 million dong.
5. Borrowing under Vietcombank life insurance
Borrowing money with life insurance is a loan product without collateral of Vietcombank. With the reputation of the bank, this product is favored and trusted by many customers.
– Low interest rates.
Loan limit up to 300 million VND.
– Flexible loan term up to 48 months.
6. Borrowing under Agribank life insurance
Agribank is one of the banks that support loan packages with life insurance with extremely attractive interest rates. Although this is a bank with strict loan conditions, if it proves that the main loan plan is or is able to repay the loan, the bank will provide quick support.
– Interest rate from 1.5%/month.
– Maximum term of 48 months.
– Limit up to 200 million VND.
Borrow money with health insurance
Borrowing money with health insurance is similar to unsecured loans with employment contracts, or by payroll, partners applying for loan approval only need to provide full personal documents, especially health insurance cards. for the financial unit to verify and approve the loan.
In fact, borrowing money under health insurance is aimed at subjects who are working for a salary at a State agency, factory, enterprise, or enterprise, or those who have legal participation in health insurance in the field of health insurance. finance.
Conditions for borrowing money with health insurance
– Being a citizen of Vietnamese nationality, currently working in Vietnam.
– Belonging to the working age group from 18 to 60 years old.
– Are receiving salary at enterprises, are paid monthly insurance by enterprises with an income of over 3 million VND.
– No bad debt history.
– Health insurance card for valid loan approval must start with: CH, DN, HX, NN, HC, TK, XK, CA, CT, QN, HD.
Must have the capacity to take legal responsibility for all their actions.
Medical insurance loan documents
– ID card/CCCD notarized copy.
– Household registration book, temporary residence certificate proving the place of residence, a copy certified by the government.
– Photocopy of health insurance card.
– Salary sheet, valid labor contract.
– Application letter for unsecured loan under health insurance.
All of the above documents must be brought along with the original to serve the verification and approval process!
Advantages and disadvantages of borrowing money under health insurance
– The loan approval rate is quite high.
– No need to provide collateral, no appraisal or third party guarantee.
– Procedures and records are easy, simple and fast.
– Flexible payment time.
– Quick disbursement through many payment methods.
– Preferential policy, can be paid in installments on the outstanding balance.
– Accept full loan payment before maturity with extremely low fees.
– Quick review within 2 hours after working.
– The loan limit is still small, the disbursement amount is still low.
– Household health insurance cards are not accepted.
– Interest rate difference is higher than bank mortgage.
– Do not accept bad debt.
– There are few units providing this service.
Borrow money with Manulife life insurance
Borrowing money with Manulife life insurance is a form of borrowing by using a Manulife insurance policy to borrow at a bank. It is a loan without proof, without collateral, based only on the contract that the customer has purchased with a validity of 2 years or more at Manulife up to now.
– Large loan limit up to 70 million VND.
– Flexible loan period from 6 to 36 months.
– Quick disbursement from 2 to 3 days.
Interest rate is only from 1.5%/month.
Conditions of loan with Manulife life insurance
To apply for this loan, you need to ensure that the following conditions are met:
Join over 2 years and pay at least 300,000 VND monthly.
Borrowing age from 22 to 55 years old.
– Living and working at a lending unit.
– 1 year insurance premium over 2 million VND.
Procedures for loans with Manulife life insurance
– Copy of Manulife life insurance policy.
– Manulife premium payment receipt.
– Copy of temporary residence book, household registration book.
– Identity card or citizen identification copy.
– Copy of business license, work confirmation or labor contract.
– Photo card 3×4.
– Documents required by the lender.
Borrow money with Prudential life insurance
Borrowing money with Prudential life insurance is a form of borrowing through a life insurance contract for the purpose of ensuring personal credibility with the lender without requiring a guarantor or other collateral.
Unlike other forms of borrowing, instead of mortgaging assets or valuable papers such as land documents, red books, cars, houses, etc., customers only need to have Prudential vision insurance to be registered. loan signing.
Conditions and procedures for borrowing money with Prudential life insurance
* Loan conditions:
– Vietnamese nationality, from 20 to 59 years old.
– No bad debt at financial companies and banks.
– Name in the life insurance policy.
Have a stable income or self-employed.
– The insurance contract must have a term of 1 year.
– A copy of the national identity card or citizen identity card.
– Photocopy of insurance contract.
– Receipt of insurance payment for the last 6 months.
– Labor contract, temporary residence book, …
Outstanding advantages when borrowing with Prudential life insurance
The outstanding advantages of this loan form that customers will receive:
– No need to prove income, no need to mortgage assets.
– High limit can be up to 500 million VND.
– Simple procedures and records, easy to meet.
– Competitive interest rates with incentives.
– Flexible payment time.
– Flexible form of interest payment based on the principal balance or initial outstanding balance.
Borrow money with Baoviet life insurance
Borrowing money with Baoviet life insurance is a form of unsecured loan, the bank will base on the insurance contract of Baoviet workers to consider whether to lend or not. When borrowing, the insurance contract must be valid for 12 months or more.
Procedures and conditions for borrowing money with Baoviet life insurance
For this form, the application procedure is very simple, including:
– Citizen ID and identity card.
– Household registration book or temporary residence book.
– Notarized copy of Bao Viet life insurance contract.
– Vietnamese citizens or foreigners living in Vietnam.
– Ages between 20 and 60 years old are likely to be legally responsible.
– Contract period from 12 months or more.
– The fee to pay at least 2 million 1 year or more.
– No bad debt history.
Advantages of borrowing money with Baoviet life insurance
– Borrow money without guarantee or collateral.
– No proof of income: Labor contract, salary statement, …
– High loan limit depends on insurance policy premium.
Maximum loan term 60 months.
The interest rate of the loan is more favorable than other forms.
– Simple loan application, fast appraisal.
– Pay whenever, small fee.
Thus, through this article, you have learned the information about Borrow money with life insurance. In general, this loan package has simple registration procedures, no mortgage required. The interest rate is not too high, but it is suitable for unsecured loans because there is no collateral. And the units that support loans with life insurance are reputable, so you can rest assured to use this form!
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